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Lehman Posts Bankruptcy Status Update
Submitted by Tyler Durden on 01/14/2009 20:18 -0400
Once the 4th largest investment bank in the U.S., and the house that Dick Fuld built, Lehman Brothers' today posted an update of its reorganization status in an 8K with the SEC. In a very interesting analysis by Alvarez & Marsal, several things become obvious.
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Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 18:59 -0400A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Lawyers A Thru C, for full list click above
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Icahn Making Sure Rust Really Sticks to Steel
Submitted by Tyler Durden on 01/16/2009 03:10 -0400
As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial
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4 out of 5 Vultures Agree Excrement About to Go Nuclear
Submitted by Tyler Durden on 01/13/2009 20:06 -0400
As much as I hate to break it to Larry Kudlow and his unending "Ted-Spread is Down" monolog, the outlook for 2009 as per some people who actually know the business, although granted are heavily axed on the apocalypse bidside, is so bad, we should all just be buying rahmen noodles, crank radios, a
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Schrenker Captured!
Submitted by Tyler Durden on 01/14/2009 05:01 -0400WSJ, and CNN report that Schrenker is in the custody of the Gadsden County Sheriff's Office. Lt. Jim Corder says Marcus is alive and well. Schrenker managed to traverse a distance of 275 miles, from the house he showed up at on Sunday night in Childersburg, Ala, to his current location at Tallahassee Memorial Hosptial as apparently he had slit his wrists shortly before being captured.
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Breaking News: Bernie Taking Kia Sorrento Back Home
Submitted by Tyler Durden on 01/14/2009 21:30 -0400District Judge Lawrence McKenna upheld the bail ruling... Guess the choppers on Lex and 64th will keep on bugging Madoff neighbor Matt Lauer indefinitely. We once again push forward the idea for converting the penthouse at 133 East 64th to a museum of Unmitigated Greed. $25 entrance fee... Start recouping those losses already!
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Blackstone Doesn't Owe Break-Up Fee to ADS
Submitted by Tyler Durden on 01/15/2009 19:11 -0400Insider trading powerhouse Blackstone has been granted some relief over its scuttled $6.6 Billion acquisition of Alliance Data Systems, and Delaware Chancery Court Judge Leo Strine has ruled they are off the hook for the $170 million break up fee.
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666 Fifth About to Go To Its Rightful Owner
Submitted by Tyler Durden on 01/16/2009 03:16 -0400
Looks like the commercial mortgage apocalypse is about to claim its next victim, this time in the form of the appropriately numbered 666 Fifth Avenue building, home to such previously flourishing tenants as
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Zimbabwe Raised to AAA+ by S&P, Geithner Celebrates Thru Innocent Mistakes
Submitted by Tyler Durden on 01/13/2009 20:30 -0400
To celebrate their new credit rating, insane dictator Robert Mugabe releases new 50 billion note, which is roughly equal to one US dollar.
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Wait Is Over - Nortel Files for Bankruptcy
Submitted by Tyler Durden on 01/14/2009 15:17 -0400
Despite our assumption that this would be a Southern New York Case, and in fact was a Delaware filing, the overall parameters turned out right.
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Vikram Memo to Employees
Submitted by Tyler Durden on 01/14/2009 22:20 -0400January 14, 2009
From: Vikram Pandit
Dear Citi Colleagues,
I want to make sure you know that we’ve moved up our Q4 2008 earnings announcement to this coming Friday, January 16. Since we are ready to release 4th quarter earnings and talk about 2009 and the future, we saw no need to wait.
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Breaking News: Governator About to Hire Lazard to Find DIP
Submitted by Tyler Durden on 01/15/2009 19:20 -0400*SCHWARZENEGGER SAYS CALIFORNIA IS IN `STATE OF EMERGENCY'
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Kappa Beta Phi Exposed
Submitted by Tyler Durden on 01/16/2009 03:58 -0400A long, long time ago...
I can still remember
How the Dow Jones used to make me smile.
And I learned my trade and had my chance
The music played I did my dance
And I made seven figures for a while.
I can't remember if I cried
when they pulled the plug on Countrywide...
It sucks that Iceland is out of ice....
Bye, Bye to my piece of the pie...
Now I travel coach whenever I fly...
Maybe this will be the day that I die.
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Zimbabwe Raised to AAA+ by S&P, Geithner Celebrates Thru Innocent Mistakes
Submitted by Tyler Durden on 01/13/2009 20:30 -0400
To celebrate their new credit rating, insane dictator Robert Mugabe releases new 50 billion note, which is roughly equal to one US dollar.
»
- Read more
- 1184 reads
Wait Is Over - Nortel Files for Bankruptcy
Submitted by Tyler Durden on 01/14/2009 15:17 -0400
Despite our assumption that this would be a Southern New York Case, and in fact was a Delaware filing, the overall parameters turned out right.
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- 985 reads